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Countrywide is in serious trouble! As the largest U.S. mortgage lender by volume, their problem is your problem. You may ask yourself how Countrywide’s problems may impact you, and why are they in trouble? By now everyone should be aware of the mortgage problems that have escalated recently. Things have not looked good as many lenders have gone belly up because of what began as a Wall Street ‘risk-adjustment.’ Initially this affected only the subprime mortgages, but then seeped through the whole industry, resulting in the Fed’s action to liquefy markets by injecting billions of dollars. This is particularly eminent … (12 comments)
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